12/18/2020
How many new subscriptions have you signed up for this year for your business? Guess what will contribute to your expenses TAX deduction? That's right:>)
*Professional, technical, medical or trade journals or magazines sites related to your business
*Professional materials subscriptions, like ink or software
*Your business phone plan
*Your electricity, internet, or other plans that you use in a home office
*Your website hosting fees
*Dues to a professional subscription or organization
Is my video streaming service (Netflix, Hulu, etc.) tax deductible?
It depends. If you own a business and use a video streaming service to entertain your guests, you may deduct it. For example, if you are an aspiring videographer have a YouTube subscription for business use, you may be able to deduct the service. It must be ordinary and necessary for your business, and only used for your business. You can’t use your business account for your personal use. If the IRS audits your return you need to be able to prove that the subscription meets these requirements. these as well can qualify if for business
Amazon Prime Business
Clothing subscription
Meal delivery (e.g. Blue Apron, Hello Fresh)
Is my audio streaming service (Spotify, Apple Music, etc.)?
It depends. If you own a business and use an audio streaming service to entertain your guests, you may deduct it. For example, if you are a dentist and have a waiting room that you play music in, you can deduct the cost of the streaming service as a business expense. It must be ordinary and necessary for your business, and only used for your business. If you have a music streaming service that you use for both personal and business use, you can’t deduct it.
